What are the transaction limits in banks and what is a threshhold limit? Can it be possible to put a limit on our own account?
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Transaction limits apply to certain interest bearing accounts, in most cases. As an example, a Money Market Deposit Account is held to no more than six covered withdrawals in a statement period. This is because it is a savings account by definition and banking regulations prohibit excessive transactions.
Banks have to monitor covered transactions and prohibit them. That is one reason they often impose a fee for excessive withdrawals. The bank actually has to do more than just charge a fee, though. If the excessive withdrawals continue, they may have to close that account and switch it to another type that is less restrictive.
The magic number of six covered withdrawals is the greatest the bank may allow. They can be more restrictive. This is why you need to look to the disclosures given you for a specific account or call your bank. They can personally describe which withdrawals are covered and what the limit is. The bank can face substantial penalties if they don't comply with these rules.
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Transaction limits apply to certain interest bearing accounts, in most cases. As an example, a 